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    Four-Plex Residential Income Property Title is generated by Realmo AI

    1202-1208 Haig Street, Gowrie, IA 50543

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    For Sale
    $249,900

    MULTI_FAMILY - Gowrie, IA

    Property size:
    3,936 SF
    Lot size:
    0.57 Acres
    Price / SF:
    $63/SF
    Added:
    Jun 1, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 8 at 7:06 am

    Property Features for 1202-1208 Haig Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Bedrooms
    12
    Bathrooms
    4
    Rooms
    Bedroom 12, Bathroom 3, Bedroom 9, Bathroom 4, Bedroom 7, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 8, Bathroom 1, Bedroom 2, Bedroom 11, Bedroom 10, Bedroom 3
    Parking
    8
    Parking features
    Garage
    Interior features
    Ceiling Fan(s)
    Exterior features
    Apartment, Paved Street
    Standard status
    Active
    Size
    3,936 SF
    Lot size
    0.57 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3137

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Number of units
    4
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Kyle Olson

    Listing agent Kyle Olson

    Listing office EXIT Country Realty 321 Central Avenue, Moorland, IA

    Listing date Jun 1, 2026

    MLS# 29944 Listing URL

    Copyright © 2026 Fort Dodge Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 4‑plex multifamily with four units, each offering 3 bedrooms and 1 bathroom
    • One‑car garage included for each unit
    • In‑unit laundry hookups
    • Central air conditioning with forced‑air natural gas heating
    • Public water and public sewer
    • Asphalt roof; ceiling fans; located on a paved street

    Overview

    This well-maintained four-plex offers four separate residential units in a single building. Each unit is configured with three bedrooms and one bathroom, along with a one-car garage and in-unit laundry hookups, supporting everyday convenience for residents. The property size is 3,936 square feet, situated on a 0.57-acre lot.

    Located at 1202-1208 Haig Street in Gowrie, Iowa (Webster County), the asset is zoned residential. The property’s multi-unit format can appeal to owner-occupants, small investors, or buyers seeking to manage rental housing with multiple independent units on one site.

    From a tenant-fit perspective, the combination of three-bedroom space, garage parking, and laundry hookups makes the units practical for households that need more room and the ability to run laundry at home. For buyers, the 4-plex structure provides multiple income-producing units within one ownership package, which can simplify building-level operations compared with holding separate single-family properties. This is a straightforward residential income option with a consistent unit mix throughout.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Nail Salon Pharmacy Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gowrie
    County
    Webster
    State
    Iowa
    Longitude
    -94.298485
    Latitude
    42.282932

    Nearby Similar for Sale

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      9,214 SF

      Well-Maintained Multifamily Investment Opportunity

      Eleven-unit multifamily property with income potential in Gowrie, Iowa.
      1806 Main Street, Gowrie, IA 50543
      View Details
    • $1,830,000
      91,058 SF

      Healthcare Facilities Ready For Redevelopment

      Five healthcare facilities available for redevelopment or conversion to other uses.
      1808 Main Street, Gowrie, IA, 50543
      View Details

    FAQs

    What type of property is this?
    Quadplex - Well-maintained four-unit building with three-bedroom layouts and in-unit laundry hookups for durable rental occupancy.
    Where is this quadplex located?
    The property is located at 1202-1208 Haig Street Gowrie, IA.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: 4‑plex multifamily with four units, each offering 3 bedrooms and 1 bathroom; One‑car garage included for each unit; In‑unit laundry hookups
    (515) 570-1100
    We can help!
    Listing Contact
    Kyle Olson
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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